Boyd Gaming (NYSE:BYD) Price Target Raised to $90.00 at Stifel Nicolaus

Key Points

• Analysts at Stifel Nicolaus have raised their price target for Boyd Gaming (NYSE:BYD) from $87.00 to $90.00, indicating a potential upside of 6.91% from its current price.
• The company recently reported $1.87 earnings per share (EPS), exceeding analysts' expectations of $1.67 per share, along with a quarterly revenue of $1.03 billion.
• Currently, the stock has an average rating of "Hold" with a consensus target price of $85.08, while eight analysts have given it a buy rating.
• Boyd Gaming's market capitalization currently stands at $6.85 billion with a price-to-earnings ratio of 13.74, showing solid financial health in the gaming industry.

Boyd Gaming (NYSE:BYD - Free Report) had its target price lifted by Stifel Nicolaus from $87.00 to $90.00 in a research note published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other brokerages have also commented on BYD. Raymond James Financial upped their price objective on Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Mizuho dropped their price objective on shares of Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Truist Financial raised their target price on shares of Boyd Gaming from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Barclays boosted their price target on Boyd Gaming from $73.00 to $87.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, JPMorgan Chase & Co. started coverage on Boyd Gaming in a report on Monday, June 23rd. They issued a "neutral" rating and a $79.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $86.62.

Boyd Gaming Stock Up 0.2%

BYD stock traded up $0.21 during mid-day trading on Friday, hitting $86.15. 1,460,921 shares of the company were exchanged, compared to its average volume of 1,056,605. The firm has a market cap of $7.01 billion, a P/E ratio of 13.25 and a beta of 1.26. The firm's 50 day simple moving average is $77.90 and its 200 day simple moving average is $73.60. Boyd Gaming has a 1-year low of $52.76 and a 1-year high of $87.76. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.76 and a current ratio of 0.80.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.20. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $976.81 million. Boyd Gaming had a return on equity of 39.81% and a net margin of 14.02%. The business's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.58 EPS. On average, sell-side analysts predict that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, June 16th. Boyd Gaming's payout ratio is presently 11.08%.

Institutional Trading of Boyd Gaming

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of Boyd Gaming by 56.8% during the first quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock worth $36,000 after buying an additional 196 shares during the period. CoreCap Advisors LLC raised its position in shares of Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock worth $42,000 after acquiring an additional 273 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Boyd Gaming by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 685 shares of the company's stock valued at $54,000 after purchasing an additional 135 shares during the period. GAMMA Investing LLC boosted its position in shares of Boyd Gaming by 68.0% during the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock valued at $51,000 after purchasing an additional 313 shares in the last quarter. Finally, Investment Counsel Co. of Nevada acquired a new stake in Boyd Gaming during the fourth quarter worth approximately $73,000. Institutional investors and hedge funds own 76.81% of the company's stock.

About Boyd Gaming

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.